08. Juni 2010 
Print
Print
Retail: Contraction of rental levels continued with moderation in Q1 2010
Vacancy
Vacancy rose in Bucharest, mostly in the case of decentralised locations with a major impact within newly delivered shopping premises. Availability for prime units in mature shopping centres in Bucharest still remains limited.
Rents
Contraction of rental levels continued in Q1 2010, especially in the case of decentralised shopping centres. However, we witnessed moderate reductions, of 10-15% in the case of prime locations and 15-20% for decentralised premises, against 2009 where asking rents dropped by between 30 to 50% when compared to the peak period of 2007.
With regard to high street retail asking rents for premium properties on the main thoroughfares of Bucharest decreased by a maximum of 15% quarter-on-quarter and varied between €70 and €90 per sq m per month for Magheru – Balcescu Boulevards, followed by Calea Victoriei where asking rents vary between €55 and €75 per sq m per month. For both Calea Dorobanti and Bratianu Boulevard the rental patterns were set between €40-70 per sq m per month (for spaces of approximately 100 sq m).
Improvement of the macroeconomic ratings and a rather limited new supply of retail spaces will consist of conducive elements towards a stabilisation of the rental levels starting 2011.
The DTZ Echinox retail team has been responsible for the exclusive lease of Atrium Center Arad, the only retail scheme delivered outside Bucharest this year. The project has been launched on March 23rd, with a 92% occupation ratio.
Vacancy rose in Bucharest, mostly in the case of decentralised locations with a major impact within newly delivered shopping premises. Availability for prime units in mature shopping centres in Bucharest still remains limited.
Rents
Contraction of rental levels continued in Q1 2010, especially in the case of decentralised shopping centres. However, we witnessed moderate reductions, of 10-15% in the case of prime locations and 15-20% for decentralised premises, against 2009 where asking rents dropped by between 30 to 50% when compared to the peak period of 2007.
With regard to high street retail asking rents for premium properties on the main thoroughfares of Bucharest decreased by a maximum of 15% quarter-on-quarter and varied between €70 and €90 per sq m per month for Magheru – Balcescu Boulevards, followed by Calea Victoriei where asking rents vary between €55 and €75 per sq m per month. For both Calea Dorobanti and Bratianu Boulevard the rental patterns were set between €40-70 per sq m per month (for spaces of approximately 100 sq m).
Improvement of the macroeconomic ratings and a rather limited new supply of retail spaces will consist of conducive elements towards a stabilisation of the rental levels starting 2011.
The DTZ Echinox retail team has been responsible for the exclusive lease of Atrium Center Arad, the only retail scheme delivered outside Bucharest this year. The project has been launched on March 23rd, with a 92% occupation ratio.
Previous Page
